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December 1, 2021

Qarun Development Lease Conventional Oil Field, Egypt

By Carmen

Qarun Development Lease is a producing conventional oil field located onshore Egypt and is operated by Qarun Petroleum. The field is located in block Qarun Development Lease.

Field participation details

The field is owned by Korea National Oil, China Petrochemical and Apache.


Production from Qarun Development Lease

The Qarun Development Lease conventional oil field recovered 85.30% of its total recoverable reserves, with peak production in 2012. The peak production was approximately 53.35 thousand bpd of crude oil and condensate. Based on economic assumptions, production will continue until the field reaches its economic limit in 2033. The field currently accounts for approximately 1% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 47.58 Mmboe, comprised of 47.58 Mmbbl of crude oil & condensate. Qarun Development Lease conventional oil field reserves accounts 0.01% of total remaining reserves of producing conventional oil fields globally.


Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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